4.6 • 12 Ratings
🗓️ 27 November 2024
⏱️ 5 minutes
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SpaceX soars while X drops. Meanwhile 26 companies including Half-Life game maker Valve debut on Forbes’ newest annual list of the biggest private companies in the U.S.
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0:00.0 | Here's your Forbes Daily Briefing for Wednesday, November 27th. |
0:05.4 | Today on Forbes, Inside America's top private companies, from Cargill to Chick-fil-A to |
0:12.0 | Coca-Cola beverages. |
0:14.8 | Sporting a signature red, Make America Great Again baseball cap, President-elect Donald Trump |
0:19.8 | stood among the cheering crowd gathered |
0:21.9 | last week in southern Texas to watch SpaceX successfully launch Starship, its sixth test of the new rocket |
0:28.7 | developed to take people and cargo to the moon and beyond. Nearby was Elon Musk, the SpaceX CEO |
0:35.5 | and the world's richest person, with whom Trump has been spending a lot |
0:39.2 | of time since the November 5th election. Tapped by Trump to co-chair newly created advisory board |
0:45.1 | Department of Government Efficiency, or Doge, Musk will continue to work alongside the president-elect. |
0:51.7 | Such close ties with Trump bode well for SpaceX, which has already gotten |
0:56.0 | nearly $20 billion in government contracts over the years from such clients as NASA and the Department |
1:01.8 | of Defense. It is valued at $210 billion by private investors. Even before Musk befriended Trump, |
1:10.5 | SpaceX had been on quite a run. Estimated 2023 revenue |
1:14.4 | for the space company nearly doubled from the prior year to $8.7 billion. It was enough to rocket |
1:21.2 | it up 85 spots to number 60 this year, making it the biggest gainer on Forbes's 2024 list of America's top private companies. |
1:30.7 | A big factor boosting revenue? Starlink, the company's fast-growing satellite business. |
1:36.5 | The network, which uses some 6,000 satellites, provides internet access to remote locations around |
1:42.2 | the world, including new markets in Africa |
1:44.6 | and the Middle East. |
1:47.2 | Not everything Musk touches has flourished. |
1:49.8 | His other big private company, Social Media Firm X, dropped to number 185 from number 149 |
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